Friday 28 February, 2020

VM Investments stock hits another high

Devon Barrett, Group Chief Investment Officer, Victoria Mutual.

Devon Barrett, Group Chief Investment Officer, Victoria Mutual.

Victoria Mutual Investments (VMIL) led double digit gains on Thursday’s trading of the Jamaica Stock Exchange (JSE) with bullish investors continuing to push the stock higher.

The stock closed at an all-time-high of $12.68 or 10.4 per cent higher on the day, with investors keen to buy any VMIL offered for sale. The lowest trades occurred at $12.00 but investors traded the stock up to $13.99 on the day before euphoria settled with the final day’s trade at $12.62. Year to date the shares gained 41.6 per cent. 

The JSE Combined Index advanced by 100.46 points (0.02 per cent) to close at 491,679.36.

The JSE Index advanced by 402.72 points (0.08 per cent) to close at 497,269.11. The Junior Market Index declined by 24.57 points (0.77 per cent) to close at 3,170.85. The JSE USD Equities Index declined by 6.56 points (2.72 per cent) to close at 234.98. The JSE Financial Index advanced by 0.23 points (0.17 per cent) to close at 133.40. The JSE Manufacturing & Distribution Index declined by 0.24 points (0.25 per cent) to close at 95.11.

Overall Market activity resulted from trading in 80 stocks of which 29 advanced, 39 declined and 12 traded firm.

Market volume amounted to 32,926,029 units valued at over $198.6 million. Sagicor Select Funds Financial was the volume leader with 9,071,468 units (27.55 per cent) followed by Wigton Windfarm with 6,601,413 units (20.05per cent) and Mailpac Limited with 6,343,722 units (19.27per cent).

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